You know I got to show up for another cheap freight thread.
Really nothing we can do.
The economy is in the toilet.
During FedEx last earnings their stock crashed 20% and they said GLOBAL recession is incoming.
Walmart, Target etc gave bad updates as well.
Too much inventory and people buying less due to inflation.
Every time the federal reserve raises interest rates the economy goes downhill more and more, meanwhile bad inflation persists currently.
Federal Reserve chairman yesterday said we need a housing correction, as in housing prices to dump 20%+.
So people’s wealth there will decrease.
Won’t cost less unless you are paying cash because mortgage rates skyrocketing quick.
We are setting ourselves up for an all around disaster.
Then when the economy eventually starts to recover rates will go to the moon and the calls of driver shortage again will come out.
Of course they won’t mention the cheap rates prior killed off many drivers.
The only solution I see is to somehow implement a minimum wage to moving freight so not do bankrupt so many trucks when the economy goes downhill.
It’s not good situation because you know drivers will be delaying maintenance, tires etc when it gets tight out here.
I bet there’s drivers out here now making the choice of buying new tires or making a truck payment on their over inflated truck price they got last year.
